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tv   FBN AM  FOX Business  August 10, 2018 5:00am-6:00am EDT

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our electoral system? we do and i know you do. thanks for being with us. see you tomorrow right here. good night from new >> the time has come to establish the united states space force. >> i have not had anyone say that this is a practical use of $8 billion. cheryl: breaking this morning, vice president pence announcing new plans for a u.s. space force but at what cost to the u.s. taxpayer? lauren: dow 74 points yesterday but the nasdaq ending higher for eighth session in a row. cheryl: today new worries rattling markets, down 20% this week, futures feeling the pressure. the dow down 105 in premarket. s&p down 13 and a quarter, s&p
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down 36 and three quarters. lauren: central bank wants to look at european exposure to turkey's troubled economy. cheryl: stocks in asia mostly lower with japan's nikkei down and kospi index nearly down 1%. lawyer -- lauren: how about gambling with barbecue wings, one restaurant wants to serve you just that, fbn:am starts right now. ♪ cheryl: 5:01 a.m. in new york, august 10th. lauren: happy friday, good morning, i'm lauren simonetti, barbecue wings, big plate sounds amazing. cheryl: football, sign me up. we will have the story later on. lauren: are you ready? cheryl: for fowbl i was waiting
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two months ago. the trump administration has announced plan for new military force to protect u.s. interest in space. lauren: very interesting story and we get the details of what the administration is doing from blake berman. >> the vice president mike pence traveling to pentagon, when it comes to space we need to be bold and creative and cannot afford inaction, to that end the trump administration layed out plans and desires to create a sixth branch of the military which would be the called the space force, much of this has to do with protecting satellites in space, the vice president identified north korea and iran but especially china and russia adam: verse acer. >> both china and russia have been conducting highly sophisticated on-orbit activities to maneuver satellites closer to ours. >> air force has space command, roughly 30,000 members make up 10% of the air force, a letter
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in congress last summer the defense secretary jim mattis rejected the idea of a new service writing at the time, quote, because our army, navy ma reaps have vital operations, properly integrated approach is better for carrying out this mission, mattis is now behind the administration's plan, he says the threat in space is real. >> it is becoming a contested war-fighting domain and we have got to adapt to that reality, it's on par with the air land and cyber sea domains. praik blake adding another branch of military would need approval, they hope to get the space force up and running by 2020. back to you in new york. lauren: trump reelection campaign wants you to vote on a new space force logo that will go on a new line of campaign gear, check them out. 6 potential choices which include a spaceship logo with
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navy stars and one that says mars awaits, i like actually the first one. cheryl: please tweet us and let us know which one is your choice. we are making own decisions here. we have news in the markets to tell you about, global markets are very nervous right now as the turkish has plunged against the u.s. dollar to all-time low, there are many concerns right now but -- about the country's economy. the european central bank is examining exposure of european banks to turkey, the drop in lira coming as high-level meetings in washington and turkey officials over detained american pastor ended the week with no progress, the trouble in turkey weighing on u.s. stock market futures this morning, there's talk about a possible bailout from imf, the dow down 98, s&p down 12 and a half. lauren: what would this do to gain that is we have seen to u.s. on the week, well, russia is feeling the pain from economic sanctions that the u.s.
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imposed this week, the currency, falling against the u.s. dollar to its lowest level in two years, and as we noted, stocks in russia and europe also plunging, the sanctions stem from a march nerve-agent attack that was used in uk against former russian spy and daughter, the u.s. and great britain are holding russia responsible for the attack. >> sanctions is a way that we can try to encourage better behavior on the part of government, i'm speaking in a baud-base sense but that's one way we can encourage better behavior. lauren: moscow has repeatedly denied involvement in that attack. cheryl: well, the trade war with the united states is causing a rift inside the chinese government, critics reportedly are blaming china's nationalistic stance but china's top newspaper mouthpiece of the communist party fired back in unusually public way saying
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china is too strong to back down. china like an elephant cannot be hidden in small tree. china and the u.s. have kicked trade war in high gear, both countries imposing 25% tariffs on import. lauren: u.s. negotiators are holding trade talks in washington with japan and méxico. cheryl: latest from edward lawrence. >> good morning, lauren and cheryl, the meeting with the japanese trade delegation lasted two and a half hours, this was the first meeting between these high-level delegations between u.s. and japan since the tariffs went into place, the japanese minister of economic and fiscal policy is leading their delegation to get a fair trade deal, japanese companies have been paying steel and aluminum tariffs as well as on the hook for 25% tariffs on automobile import if the u.s. decides to impose those, this has been a week of deals at u.s. trade representativeas office, thursday morning they met with
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mexican delegation, the trade minister says there's close as possible to a deal on nafta, however, one big issue remains on the table the sunset clause. [inaudible] >> the less complex to most complex. we still have back and forth. i'm constructively against. >> both u.s. and méxico would like to have auto part of nafta closed out by friday night, my sources say that once a deal is done with méxico it would be taken to canada to see if they would like to sign on and the president has said in the past that he's fine with a bilateral deal although he would prefer nafta. back to you. cheryl: wall street my have doubts about elon musk's proposal ta take tesla private, tesla stock falling 5% yesterday given back most of the gains falling musk's surprising announcement on tuesday, the plan creating a lot of questions among tesla's board of
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directors, reports say the board is seeking more information about how musk intends to finance the $72 billion to go private. musk said in a tweet you may remember that he had secured financing but did not public i will provide any further details, the sec is now investigating, shares of tesla are rebounding and remarket up 2 and a quarter percent. lauren: kind of put up or shut up. where is the money? so they want younger customers, apple or-rival samsung is coming up with new products and partnerships. cheryl: good morning, tracee. >> a cross between smartphone and tability here in new york yesterday making it more music and gamer friendly in terms of attracting younger customers as you said, samsung announced partnerships with fortnight and shares of spotify dropped
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because of the news. a new galaxy watch. there it is on the screen. cheryl: i wonder if that's a true competitor to apple watch. tracee: they're hoping. cheryl: looks similar. campbell soup to find a buyer. tracee: they are pushing for sale of campbell soup, calling if. >> the sale of the soup maker, campbell has suffered from years of oversight, poor operating performance and lack of leadership. lauren: yeah, soup is not that big right now. cheryl: the ceo actually abruptly left on a friday afternoon. lauren: buffalo wild wing they are big and now you can get a special side order, what's the deal? tracee: now that it is legal buffalo wild wings is considering in getting sports betting business, looking for
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ways to bring in new customers and reverse years of slumping sales, in a statement the company said, quote, as the largest sports bar in america, we believe buffalo wild wings is uniquely position to leverage sports gaming to enhance the restaurant experience for our guests, you'll remember the u.s. supreme court voted last may to reveal 1992 law that banned sports betting in all but four states. >> i actually think it makes sense, a lot of debate whether we want sports betting, business wise, i like it. tracee, thank you very much. all right, we have a lot more coming up, president trump weighing in on the chicago violence that has left 11 people dead. >> we will be talking about chicago today because that is something that in terms of our nation nobody would believe it could be happening. cheryl: and is it censorship, facing down on content for
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making 3d guns, take a look at futures, worries about turkish economy, the dow down 99, s&p down 12 and a half. too cold for camping? too hot to work? nah. this is the gator xuv835. with game-changing heat and air, it's never too anything for anything.
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>> cheryl: welcome back, let's get you caught up on what's happening now. there's concern of turkey's economy, will turkey affect european banks, will turkey possibly need bailout from imf, the lara under pressure, that's hurting global markets, s&p down 11 and a quarter and nasdaq 32 and a half, kansas secretary of state is recusing himself from the vote count, he's trying to win the republican nomination over governor jeff collier who called for recusal. collier trails by 121 votes after two counties reported errors, president trump sounding off against violence in chicago and meeting with governors and state attorney general on prison reform yesterday. >> we must strengthen bonds with law enforcement including cities like chicago that have been absolute and total disaster, 63
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incidents and 12 deaths, there's no reason in a million years that something like that should be happening in chicago. cheryl: legislation funding, drug treatment, education and job skill's programs for prisoners, facebook is cracking down on content that helps the public learn how to make 3d printed guns, blueprints are available online and materials used can be purchased online or in person, facebook says content is against community standard and many people asking if this is actually censorship, and lauren, this is what's happening now. lauren: the economy seems to be firing on all cylinders yesterday's report was tamed so should the stock market be even higher, it's a question that we put to lindsey bell, strategists, and david nicholas, good morning, happy friday. >> happy friday. lauren: i will start with you, lindsey, impetus to sell today, turkey in particular, if you look at how we are trading here
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in the u.s., the nasdaq is up 8 days in a row, that's the longest winning streak we have seen this year, do you think the economy should be even the stock market should be even higher because where is the inflation, right, gdp looking good, should stocks be higher? >> well, you know what, i think -- you have to remember the s&p 500 is a half percentage point to all-time high reached in january this year, i feel good with the market sgdp and second quarter was outstanding, we might see a little pullback in third quarter given the export number that was in the gdp, but overall fundamentals here in the u.s. are showing earnings in second quarter about 25%, we are looking at 22% for the whole year, the consumer is sentiment and spending is on the rise, so i think that what you're seeing here is overhang from trade, so i think that's really what's
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holding the market back. lauren: david, do you think this 4% growth some americans starting to see higher pay czechs, -- paychecks, all the positive things, all the tit for tat spat going on with china? >> unemployment close to 20-year lows, one of the things you mentioned, i have clients that ask me all of the time, david, is a recession pending, the good news is that the probability for a recession is at all-time lows but one of the things that could push us closer to the probability increasing for recession is things like trade wars increasing, so, but the good news like we mentioned earlier that we don't see any fear in sight for the heighten risk of recession but investors need to be careful because when we are at the top of business cycle where i think we are are we have to remain vigilant and
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the bull run will not last forever. lauren: you brought up the r word, they talk about how this 3% economic growth that they expect and predict that you are survey say 3% growth this year is not sustainable. if you look at the numbers they say that's expected to go to 2.4 next year and 1.8 in the year 2020 at the same time they say economists see 18% chance of a recession beginning in the next 12 months, lindsey, what do you say? >> well, even if we do have a recession within the next 12 or 24 months which is not what we are predicting, we do expect growth to slow given robust growth we are seeing, but the recessions that we have seen in the past have been milder and that's because we've gotten so much better from economic standpoint, we have become more stable and steady. our economy is much more services oriented and that is a key component.
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we've been better at managing inventory so of the last 11 recessions nine of them have only, you've only seen the market fall about 25% on average which sounds like a lot but we are up more than that in the last year. lauren: what do investors do, david? >> i think you want to remain bullish, this is a great time to benefit from markets appreciating but if you're approaching retirement, i know 20% lose may seem not like big deal that can hurt, you want to remain vigilant, take advantage of the growth of the market but if you're approaching retirement remain cautious, you might want to have portion in cash that can get you through year and a half. lauren: thank you. >> thanks so much. cheryl: coming up we continue to follow the devastation in california as the holy fire rages on in the southern part of the state, the man suspected of
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starting will -- is sitting in jail today. worries about turkey and, of course, expowture to european markets in particular, pressure on the dow, down 88. you're watching fbn:am. my life is here... [telephone ring] ahoy-hoy. alexander graham bell here... no, no, my number is one, you must want two! two, i say!! like my father before... [telephone ring] like my father before...
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plus get $150 when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. cheryl: well, new mandatory evacuations have been put in place by residents threatened by holy fire in california, the fire burn ago cross orange and river side counties forcing more than 20,000 people from their homes. the man suspected of starting the fire forest gordon clark
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refused to appear in court yesterday and is being held on a 1 million dissimilar bail. he's due in court today, he faces multiple charges which could result in a life sentence if convicted. officials say he sent threatening emails to fire department saying, quote, this place is going to burn. lauren: wow, those firefighters in california might finally get a break from hot temperatures this weekend. cheryl: fox senior meteorologist janice dean here with weekend forecast, janice, good morning. >> happy friday, let's look at current temperatures, here in the northeast not as humid, feels really good, wet weather in the forecast this weekend, a lot of 70's on the map, very warm across the south and break in california but the northwest still remains very dry and hot, so here is the past 24 hours getting moisture into the southwest because of some tropical moistures from the
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pacific, that's good news, however, we could see flash flooding in the region, it's still going to remain dry across parts of california, great basin up to northwest as well, we have elevated fire danger for parts of northern california, northwest and the rockies, so keep in mind. here is your forecast today, we will see hot temperatures across the south, it will be soapy with a lot of moisture streaming in from gulf of mexico, potential for rain across portions of the southwest and then a nice day today, ladies, but we will see on and off showers on the weekend, maybe plan some indoor events if you're in town in new york city. cheryl: i don't think i've seen this much rain in the summer in the northeast -- janice: in a long time. lauren: particularly on the weekend. >> very green. cheryl: that's true, get ready for all those flowers be popping up. lauren: coming up we are talking about shoes adidas is outrunning
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nike in nike's turf, take that. all right, take a look at futures this morning, all right, it's going to be a much lower open as indicated right now, dow futures down 96 points, s&p futures down 12, weekly gains in jeopardy, nasdaq down 34, you're watching fbn:am how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com
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♪yeah, i would fight for you♪ ♪i'd lie for you ♪walk the wire for you ♪yeah, i'd die for you ♪you know it's true ♪everything i do ♪i do it for you >> the time has come to establish the unites states space force. >> i have not had anyone say that this is a practical use of $8 billion. lauren: breaking news this morning vice president mike pence announcing new plans for u.s. space force but can we afford it and do we need it? cheryl: markets this morning,
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dow slid yesterday and nasdaq did entire for eighth straight session. lauren: we have new worries and they are rattling global markets today as turkish lara sinks to all-time low, you can see the dow is down 99 points, nasdaq down 35 in premarket. cheryl: connection continues to europe, stocks opening lower there after ecb wants to look at how european banks are exposed to turkey's troubled economy. lauren: stocks in asia they too mostly lower, today japan's nikkei lower, korea kospi down 1%. cheryl: how about free big macs for life new promotion, fbn:am continues right now. ♪ ♪ cheryl: it's 5:30 a.m. in new york, friday august 10th, good morning, i'm cheryl casone.
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lauren: tgif, i'm lauren simonetti, the final frontier as they call it, the trump administration is proposing expanding u.s. military into space with a new branch. cheryl: fox news lauren blanchard with details. >> the time has come to establish the united states space force. >> it would be the first new military branch since the air force in 1947. >> as president trump has said in his words, it is not enough to merely have an american presence in space, we must have american dominance in space. >> vice president mike pence says they plan to ask congress for an additional $8 billion in national security funding over the next 5 years. in a letter to congress last year, defense secretary james mattis said he was not in favor of a space force, but by
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thursday he seemingly was on board. >> it's becoming a contested war-fighting domain. >> after announcement at pentagon the president tweeting his excitement, however, critics have said talks about weponizing space could potentially violate the outer space treaty signed in 1967 which prohibits weapons of mass destruction in space. but the white house argues countries like china and russia are already becoming aggressive and it's a matter of protecting national security. >> what was once peaceful and uncontested is now crowded and adversarial. >> the administration is now lobbying for support, authorization and allocating of federal funds for the space force does require congressional approval. in washington, lauren blanchard fox news. >> thank you, kristin, let's
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bring former obama field director robin byro and brad blakeman. this reminds me like star wars, that didn't pan out what the administration thought it would, what do you make of this new space force? >> the reagan star wars plan worked quite well because it brought russia to the table to talk about decallization -- deescalation of nuclear weapons. america needs this, we need to protect space, the billions and billions of dollars in infrastructure up there, so we have to protect what's above us and what's below us and the chinese and the russians are already working very aggressive in this area, we would be negligent, negligent if the president didn't preserve and protect the united states from space. cheryl: when you first hear the
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number $8 billion, that's a lot of money, but to brad's point, you know, the chinese and russians are working on antisatellite weapons, a lot of satellites are crucial to u.s. troops in the ground, whether it's afghanistan or syria, aircraft carriers in persian gulf, they need satellites, russians and chinese maybe have something that they're thinking is a good threat against us and this would be a good way to protect us. >> i see your point, it's a very good one. this falls under the purview of the air force, that's where i don't see a need for new brand of the military specifically for this and i actually disagree, i don't think it's a tremendous amount of money, but when we have been told that there's enough not enough for like clean water in flint, michigan and shot down for medicare for all and college tuition and all the other things that we could be
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using this money for, i want to say that my special operations friends don't see this as good idea, they see this as waste of funds, i think it's a distraction. cheryl: you know what your friends have another friend and that's astronaut scott kelly, listen to what he said on fox business about this. >> i have not had anyone say that this is a practical use of $8 billion, at least to me. so i have not come across anyone that has taken this very seriously and think it's something that is, you know, a necessary part of our defense strategy. cheryl: brad, he's saying it may not be necessary. >> it's absolutely friend downs like debbie downer. [laughter] cheryl: follow on instagram and you'll change your mind. >> what do we need cars for, horses are perfectly fine. we have got to keep up with technology, we have to keep up with threats as they exist and there's trade-offs in life, we have to make it within our
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budget, we have to trim our budget to make sure that first and foremost america is safe and secure, we don't have a country unless we are safe and secure both at home and abroad. cheryl: what do you make, though of jim ma his changing tune, as reporter told us previously he said it's a great idea and we want to show the viers all of the logos that the trump administration, actually president trump is saying not only new log's to pick from but will sell items that have log's on them, robin, what do you make of that? >> this is a tough sale, i hate the poo-poo the idea, it's redundant because it falls under the purview of the air force so i don't see why we can't beef up the capabilities of the air force to already cover this without overspending, i like to see republicans as being fiscal conservatives and here i am as a
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democrat saying i think it's gratiitis way of funds. cheryl: army and air force and the navy split to monitor and that's another fair question for that, robin, brad, guys, thank you so much for being here. lauren: this was fun. cheryl: who needs cars, we have horses. lauren: who needs shoes because adidas sales are up and they are taking rival. tracee: adidas is racing past competition nike, adidas sales in north america grew compare today nike 3% gain for quarter and in may adidas which also owns reebok is gaining market share in north america which is the largest sneaker market in
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the world. lauren: rebook ultra boost is one of the popular sneakers. cheryl: interesting. let's say with shoes and talk about crocs. lauren: i love. tracee: you might be one of the few. crocss is closing last of manufacturing plants, the company closed plant in méxico and italy will close soon but not sure how it will continue producing product. lauren: in my defense, you can put them in dishwasher to clean them and kids love them because they can get wet and they can put it on themselves. cheryl: people that work on both, people that work -- tracee: you're not wearing
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crocs. lauren: mcdonalds offering free promotion for life? tracee: something they rarely due. tracee: one lucky winner which means free mcdonalds for life only a handful of people have ever gotten this card, there it is on the screen, bill gates, warren buffet who don't need the freebies but first time mcdonalds are given mcgold card, everybody who places order on mobile automatically entered to win. they are trying to push this mobile ordering. lauren: thank you, have a wonderful weekend. coming up we have a desperate situation at the venezuelan border as un ambassador nikki haley takes aim at president and socialist policies. >> everybody has to be loud and against maduro. lauren: we are going to take you
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there, one tsa agent being held as hero for jumping into action after a bag starts smoking. take a look at your money right now, dow futures are now down triple digits, down 10 points as there are currency drama, the lara falling in turkey, raising shares, we will be right back year, i am sorry about that. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event.
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lauren: happy friday and welcome back, stock market futures this morning, we do have selloff, dow futures down 11 points, s&p down 14, nasdaq down 42, of course, the nasdaq up days in a row, not the case this morning. tsa checking checkpoints at 150 smaller airports after considering eliminating them to safe money. tsa found that the risks of removing weight points outweighed potential benefits, meanwhile agent springing into action removing smoking bag from security screener realizing it was on fire, darrell wade quickly running outside of the terminal of a georgia airport, smoke came from malfunctioning vape battery that caught on fire. well, several fake donald trump
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stars in hall of fame, stars are response to president trump's star getting vandalized then a resolution passed to star removed. u.s. federal judge has authorized petroleum corporation to satisfy venezuela's debt, state oil company losing control of valuable assets and cheryl, that's what's happening now. cheryl: well, socialist venezuela is one of the largest economic disasters in world history now, even though it has the world's largest oil reserves its inflation to hit 1 million percent this year. no food or medicine forcing people to flee the country. >> millions, starving and sick are escaping venezuela, many to colombian border towns where we met refugee maria elena lopez
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gonzález. >> children are dying because to have shortage of medicine, the seniors are dying, we can't find food and everything is overpriced and the majority are fleeing the situation. >> others say they are escaping government oppression. >> they want to kill us, they have killed our families and hide everything that's happening around the world from venezuela. >> u.s. ambassador to the united nations nikki haley visited relief efforts here, she blames the crisis on venezuelan president nicolás maduro. >> we will continue to let him know that what he's doing is wrong for the venezuelan people and fight freedoms for democracies that the venezuelan people deserve. >> in exclusive interview with fox news ambassador haley says maduro is committing mass atrocities in the way he manages government and other countries
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must increase aid to venezuelans and pressure on maduro. >> we need the international community to understand that the united states, yes, we have 60 million, 9 million more today was -- but everyone needs to force him to leave. >> despite alleged attempt on his life this weekend, maduro remains in power, venezuelans at catholic kitchen as a result the government has tighten control of society, political and economic crisis where many choose to live on streets in foreign country over returning home. >> i've been caught in trential downpours and i haven't found shelter, i live in the streets, we want to solve problems, we don't want free handouts, we want to work. >> the government says tens of thousands venezuelans cross into colombia every day, some stay in colombia, other moves to central or south american countries and some will eat a meal, have medicine, fresh water and return to venezuela.
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that process will happen again tomorrow and the next day, cheryl and lauren back to you. lauren: coming up in sports the nfl preseason got in full force last weekend and so did the national anthem protest. and in golf, tiger woods starting tough start at pga championship. the selling continues, the dow is down 116 points, nasdaq down 44, the s&p 500 down 15. stay close, you're watching fbn:am too cold for camping? too hot to work? nah. this is the gator xuv835. with game-changing heat and air, it's never too anything for anything.
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lauren: nfl preseason kicked into full gear and so did the protests. cheryl: they're back, jared max is back and he's got that story. jared: yeah, here we are again as another season begins so does national anthem controversy, while the nfl and association with privately resolution, several nfl players protested during national anthem last night, 12 preseasons game, miami robert raised fist and kenny kneeled as he did last season. creator of nfl anthem protest former quarterback colin kaepernick supported, continued protest of systematic oppression by taking a knee, mentions others who protested and stay strong, brothers. the nfl said in a statement there has been no change in the nfl's policy, the anthem will continue to be played before every game and all players and nonplayer personnel on the field are expected to stand. 12 and a half games last night
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in met life stadium, number one and number two make debuts on first run from scrimmage, lock go for new york giants, 39 yards, giants rooky finished with 43 yards rushing, hines man trophy winner, quarterback baker mayfield threw a fair of pass, the browns beat the giants 20 to 10, 100th pga championship in st. louis, rough start for tiger woods yesterday, rough start but broke stride out of gate, boogied the first hole and double boogied the second. by tend of 18 holes tiger was tied with 13 others including rory, one better than ricky fowler. prior to la dodgers win last night, la relief pitcher was
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hospitalized with irregular heart beat, underwent test and flew back to los angeles, a single, double or triple, all red sox need today pleat the cycle last night, was a home run, how did he do? >> 3-2, fly ball, back it goes. it is gone. jared: i'm not going to say somebody in studio said i hate the red sox, here is the good news, the red sox did lose last night. cheryl: i'm trying to get over the fact that the cleveland browns beat the giants. jared: maybe they have a quarterback that will last more than 4 games. cheryl: first pick on draft. jared: under the microscope. welcome back again. cheryl: again, she survived first week back. catch jared fox news headlines
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24/7, siriusxm 115. lauren: coming up global markets on edge as turkey's lara hits record lows, live report from london when we return. ♪ ♪ build and run apps anywhere you like, while keeping your competitors at bay. the ibm cloud. the cloud for smarter business.
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>> while, there's trouble in turkey can lara plunge to go record low, the news weighing on european stocks due to concerns
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about european bank exposure, let's bring in james foley, this is your wheel house, james, how serious is this? >> this is a serious situation that's been happening for a while and no end in sight. now we do have in a couple of hours presentation by the finance minister to announce new fiscal policy but the market is skeptical of whether or not it would give what the market wants to see which is a tightening of policy, now to put in th in perspective, next month central bank meeting and market speculating on when interest rate hike 5 or even 10%, that's how serious it is in turkey now. lauren: erdogan no proponent of higher interest rates. we are seeing somewhat of a effect this morning, the european central bank reportedly saying they are concerned about their bank's exposure to credit,
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what do american investors need to know? >> indeed, we have seen that the stocks of these banks have been hit. that too with negative impact in stock market and in order to break that the u.s. needs to see whether there's positive domestic incentives but certainly what we are seeing right now merging markets particularly being hit, a lot of flow out of merging markets, with this sort of news in the background on top of trade wars and on top of higher cross of funding in u.s. dollar debt is really bad news for markets right now. cheryl: jane foley, great to have your expertise, thank you, jane. >> thank you. lauren: that's it for us this week, thank you for joining us, we will say good morning to maria bartiromo. maria: happy friday to you and good morning, everybody, thanks for joining, i'm maria bartiromo, it is friday
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august 10th, top stories right now just 6:00 a.m. on the east coast, turkey's economy on the brink, the turkish lara slide to go record low overnight amid growing concerns over the country's financial systems, the worries rippling through markets this morning, futures indicating triple-digit decline at the start of trading, dow industrials down 134 points, down almost 1 -- just over 1 half of 1%, s&p 500 down two-thirds of a percent as is the nasdaq right now. this after mixed story yesterday on wall street, take a look at averages yesterday at the close for dow industrials gave up 75 points, one quarter of 1% and the s&p 500 was down a fraction, the nasdaq squeaked out a gain up 3 and a half points. the eighth day of gains, that is the longest winning streak, by the way of the year n europe this morning markets are lower across the board as is the case on wall street, ftse down 3 quarters of percent, the cac quarante is down one and a third and dax in germany off one and three quarters percent. in asia overnight the story was
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mixed mostly for downside as you see the nikkei average in japan down 1 and a third percent. kospi in korea down almost 1%. a new season a new round of protests, nfl players taking a knee and raising their fists during national anthem last night, the outrage coming up this morning and racing against time, rescuers searching for survivors as flash foods hilt southern france, more than 1,000 people evacuated, we have the latest on that this morning. tesla's troubles, new reports say it is automakers board does not have information on elon musk's financing plan, the stock now worth less than before musk's fateful tweet, remember, he said that he had funding secured at $420 a share to take the company private. the board hasn't seen that evidence, plus kanye taking kimmel, the rapper weighing on wife's visit to the oval office. >> would

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